GM CEO Henderson resigns after 8 turbulent months - Page 3

2SSRS@Gen5diy · 12-01-2009, 05:04 PM

Well it looks like what i told him in May came true, So let me repeat it good luck finding a new job

Da Hose · 12-01-2009, 05:10 PM

I work at AT&T and started when it was Southwestern Bell.....when Whitacre was CEO here......I personally saw him take the smallest of all of the baby bell company's ( us ) and almost completely reassemble AT&T of old. If anyone can turn GM around..Whitacre can!

*KILLER74Z28* · 12-01-2009, 05:16 PM

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DETROIT – General Motors' CEO Frederick "Fritz" Henderson has resigned after eight turbulent months as head of the largest U.S. automaker. The company said Tuesday that Chairman Ed Whitacre Jr. will serve as interim CEO. The company plans an international search for a new president and chief executive.

At a press conference here, Whitacre read a brief statement thanking Henderson for his work during a period of challenge and change.

Henderson, 51, succeeded Rick Wagoner on March 29 after the Obama administration ousted GM's former CEO as the company worked through a government-led reorganization.

Henderson spent the next few months working with the government to reorganize the automaker outside of bankruptcy, but eventually took the company into Chapter 11 protection in June.

With the government's help, the company emerged from court protection in just 40 days cleansed of massive debt and burdensome contracts that would have sunk it without federal loans.

Henderson continued to downsize the automaker after its emergence from bankruptcy. He sought to scale down GM to just four core brands: Chevrolet, Cadillac, Buick and GMC.

While he has largely succeeded in that goal, attempts to sell the company's other brands have hit obstacles.

The company is winding down Pontiac and was successful in winning a tentative sale of Hummer to a Chinese construction machinery maker.

However, Henderson's bid to sell Saturn to racecar mogul Roger Penske fell through and the brand is now liquidating. Last week, Swedish sports car maker Koenigsegg Automotive AB dropped out of a deal to buy Saab.

*The_Blur* · 12-01-2009, 05:17 PM

This is bad news. I hope GM can keep things positive while it searches for new leadership.

Angrybird 12 · 12-01-2009, 05:25 PM

I hope he dosen't get one dime in compensation...

tribone · 12-01-2009, 05:27 PM

Interesting...

trm0002 · 12-01-2009, 05:34 PM

Quote:

Originally Posted by The_Blur

This is bad news. I hope GM can keep things positive while it searches for new leadership.

It's "shocking" news but not necessarily bad. Let's just see how it shakes out over the next 24-48 hours...

Captain Awesome · 12-01-2009, 05:47 PM

Quote:

Originally Posted by FenwickHockey65

The government has kept their promise for a hands-off approach to GM.

Proof?

*Milk 1027* · 12-01-2009, 05:55 PM

Maximum Bob for CEO?

UCF w00t · 12-01-2009, 06:15 PM

Quote:

Originally Posted by Milk 1027

Maximum Bob for CEO?

LOL. That would be awesome but don't think that's gonna happen.

And Fen, please explain your position. It was my impression that Fritz has been doing a pretty good job. I mean, GM still exists.... Fritz had a past of reviving near-dead international GM businesses.

*TAG UR IT* · 12-01-2009, 06:16 PM

well...didn't see this one coming.

I hope the best for gm. Does not sound like Ed will stick around too long. But, if things work well, I hope he turns the company in the right direction. Not knowing anything abput cars isn't bad...in fact, I'd say this apparently smart man has a better shot and a more importantly unbiased shot at changing things for the better.

good luck, Ed.

TJ91 · 12-01-2009, 06:20 PM

"Scott Settlemier appointed new President of GM" Wouldnt that be amazing?!

camaro5 · 12-01-2009, 06:25 PM

Quote:

Well, that was quick. Fritz Henderson, the recently appointed CEO of General Motors, is stepping down.

Company chairman of the board Ed Whitacre (remember the "Satisfaction Guaranteed" commercials, that's the guy) is set to act as the interim CEO until a permanent replacement is found.

http://www.autoblog.com/2009/12/01/b...on-steps-down/

Captain Awesome · 12-01-2009, 06:26 PM

TV is reporting he "resigned under pressure".

Pressure? From whom? From what?

Inquiring minds want to know!

12-01-2009, 05:16 PM	#31
KILLER74Z28 MOD SQUAD Drives: 2G1FT1EW9A9100666 Join Date: Aug 2006 Location: West Michigan Posts: 5,768 View My Garage	GM CEO Henderson resigns after 8 turbulent months DETROIT – General Motors' CEO Frederick "Fritz" Henderson has resigned after eight turbulent months as head of the largest U.S. automaker. The company said Tuesday that Chairman Ed Whitacre Jr. will serve as interim CEO. The company plans an international search for a new president and chief executive. At a press conference here, Whitacre read a brief statement thanking Henderson for his work during a period of challenge and change. Henderson, 51, succeeded Rick Wagoner on March 29 after the Obama administration ousted GM's former CEO as the company worked through a government-led reorganization. Henderson spent the next few months working with the government to reorganize the automaker outside of bankruptcy, but eventually took the company into Chapter 11 protection in June. With the government's help, the company emerged from court protection in just 40 days cleansed of massive debt and burdensome contracts that would have sunk it without federal loans. Henderson continued to downsize the automaker after its emergence from bankruptcy. He sought to scale down GM to just four core brands: Chevrolet, Cadillac, Buick and GMC. While he has largely succeeded in that goal, attempts to sell the company's other brands have hit obstacles. The company is winding down Pontiac and was successful in winning a tentative sale of Hummer to a Chinese construction machinery maker. However, Henderson's bid to sell Saturn to racecar mogul Roger Penske fell through and the brand is now liquidating. Last week, Swedish sports car maker Koenigsegg Automotive AB dropped out of a deal to buy Saab. __________________ Who cares about the Blue Oval crowd and their little Ponys? We're getting our Camaro back-and it'll be Supercharged!-MDAII Team LS3

12-01-2009, 05:17 PM	#32
The_Blur Moderator Drives: 2018 Harley-Davidson Street Bob Join Date: Nov 2007 Location: San Diego Posts: 14,768	This is bad news. I hope GM can keep things positive while it searches for new leadership. __________________ RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// Operation Demon//Buy at Invoice//RACECARWEAR RESPECT ALL CARS. LOVE YOUR OWN. warn 145:159 ban

12-01-2009, 05:25 PM	#33
Angrybird 12 7 year Cancer Survivor! Drives: 17 Cruze RS, 07 G6 GT, 99 Astro Join Date: Dec 2007 Location: East Tennessee Posts: 21,546	I hope he dosen't get one dime in compensation... __________________ Cancer's a bitch! Enjoy life while you can! LIVE, LOVE, DRIVE... The Bird is the word!

12-01-2009, 05:27 PM	#34
tribone Searchin' .... Drives: Powered by Bowtie Join Date: Jun 2008 Location: Camaroville Posts: 6,229 View My Garage	Interesting... __________________ -Guillermo My Pictures

12-01-2009, 05:55 PM	#37
Milk 1027 Camaro➎ moderator Drives: '13 BLK 1LE Join Date: Aug 2008 Location: AZ Posts: 13,567 View My Garage	Maximum Bob for CEO? __________________

12-01-2009, 05:04 PM	#29
2SSRS@Gen5diy Drives: 2014 Z/28 #82+#192, 18ZLE 66Nova Join Date: Oct 2008 Location: By the lake in AZ Posts: 15,728 View My Garage	Well it looks like what i told him in May came true, So let me repeat it good luck finding a new job

12-01-2009, 05:10 PM	#30
Da Hose ACCOUNT HOZED BY GN...... Drives: 2011 SGM 2SS/RS #26731 Join Date: Oct 2009 Location: Katy, TX Posts: 5,891 View My Garage	I work at AT&T and started when it was Southwestern Bell.....when Whitacre was CEO here......I personally saw him take the smallest of all of the baby bell company's ( us ) and almost completely reassemble AT&T of old. If anyone can turn GM around..Whitacre can!

12-01-2009, 06:16 PM	#39
TAG UR IT www.Camaro5store.com Drives: 2014 ZL1 #705 Join Date: Jul 2006 Location: SA, Texas Posts: 26,544 View My Garage	well...didn't see this one coming. I hope the best for gm. Does not sound like Ed will stick around too long. But, if things work well, I hope he turns the company in the right direction. Not knowing anything abput cars isn't bad...in fact, I'd say this apparently smart man has a better shot and a more importantly unbiased shot at changing things for the better. good luck, Ed.

12-01-2009, 06:20 PM	#40
TJ91 :chevy: Drives: 2LT/RS Join Date: Jun 2008 Location: Toronto Posts: 13,035	"Scott Settlemier appointed new President of GM" Wouldnt that be amazing?!

12-01-2009, 06:26 PM	#42
Captain Awesome Account Suspended Drives: 2010 Camaro 2SS/RS Join Date: Apr 2008 Location: New York Posts: 3,746	TV is reporting he "resigned under pressure". Pressure? From whom? From what? Inquiring minds want to know!

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